Last checked at 15 Oct 2018 07:00
AB Dynamics plc("AB Dynamics" or the "Group")
Grant of options to a director
AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry, announces that it has granted options over 100,000 new ordinary shares of 1 pence each in the Company (representing 0.51 per cent. of the Company's issued share capital) to James Routh, the Company's new Chief Executive Officer who joined the board on 1 October 2018. Mr Routh has no other options over, or holdings in, the Company's shares.
The options have an exercise price of 1230 pence, being the closing mid-market price on 11 October 2018, and one-fifth will vest on 12 October 2019 and on each subsequent anniversary until all options have been vested.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 and has been arranged for release by Robert Hart, Chief Financial Officer of the Company.
For further information please contact:
AB Dynamics plc | 01225 860 200 |
Tony Best, Chairman James Routh, Chief Executive Officer Rob Hart, Chief Financial Officer
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Cairn Financial Advisers LLP (Nomad) | 0207 213 0880 |
Tony Rawlinson Liam Murray
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Cantor Fitzgerald Europe (Broker) | 020 7894 7000 |
Phil Davies David Foreman |
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IFC Advisory Ltd (PR) | 0203 053 8671 |
Tim Metcalfe Heather Armstrong Graham Herring |
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Overview of AB Dynamics plc
AB Dynamics is a leading designer, manufacturer and provider of advanced testing and measurement products for vehicle suspension, brakes and steering to the global automotive research and development sector.
The Group is headquartered in Bradford on Avon employing approximately 150 staff. AB Dynamics currently supplies all the top twenty automotive manufacturers, including Honda, Toyota, Ford and Volkswagen, who routinely use the Group's products to test vehicle safety and dynamics.
The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.
1 | Details of the relevant person / person closely associated | |||||||
a) | Name | James Routh | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Director of AB Dynamics PLC | ||||||
b) | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer | |||||||
a) | Name | AB Dynamics PLC | ||||||
b) | LEI | 213800OFXZP4A7I47K43 | ||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii each type of transaction; (iii each date; and (iv) each place where transactions have been conducted | |||||||
a) | Description of the financial instrument, type of instrument | Ordinary Shares | ||||||
| Identification code |
GB00B9GQVG73
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b) | Nature of the transaction | Grant of options | ||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information |
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| - Aggregated volume | As above | ||||||
| - Price | As above | ||||||
e) | Date of the transaction |
12 October 2018 | ||||||
f) | Place of the transaction | AIM
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